The present invention relates to managing objectives, such as business objectives or the like and more particularly to a method and system to manage achieving an objective, such as customer satisfaction, delight or the like.
In many industries, there is significant competition for customers. This includes attracting new customers and retaining current customers. This is particularly true in the banking industry as well as other service sector businesses where customer satisfaction or delight is important. A dissatisfied customer is highly unlikely to recommend the business or service to others and may even take his business to a competitor. Worse, a dissatisfied customer could spread “negative word-of-mouth” to other potential customers. Additionally, retained customers tend to be less expensive to service. Therefore, a customer who is delighted stays longer with a service provider, generates more income and costs less which will lead to increased net present value over time.
Many businesses pay little attention to customer satisfaction or delight, and if they do, predicting customer satisfaction is little more than guess work. The results are rarely based on sound analysis and targeted initiatives.